159,829 Karman Holdings Inc. $KRMN Shares Sold by Zevenbergen Capital Investments LLC

Key Points

• Zevenbergen Capital Investments cut its Karman Holdings stake by 18.3%, selling 159,829 shares and retaining 714,745 shares valued at approximately $23.2 million.
• Institutional activity was mixed, while director David Stinnett purchased 27,000 shares for about $1.0 million. Other funds, including Congress Asset Management and Tidal Investments, increased their positions.
• Karman shares traded at $31.75, near their 12-month low, despite analysts maintaining a consensus “Moderate Buy” rating and an average $87.33 price target. Quarterly revenue rose 58.2% year over year to $182.1 million, and earnings slightly exceeded estimates.

Zevenbergen Capital Investments LLC decreased its holdings in Karman Holdings Inc. (NYSE:KRMN - Free Report) by 18.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 714,745 shares of the company's stock after selling 159,829 shares during the quarter. Zevenbergen Capital Investments LLC owned about 0.54% of Karman worth $23,172,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Congress Asset Management Co. lifted its position in shares of Karman by 23.8% in the 3rd quarter. Congress Asset Management Co. now owns 1,068,811 shares of the company's stock worth $34,651,000 after purchasing an additional 205,503 shares during the period. Moody National Bank Trust Division purchased a new position in shares of Karman during the third quarter valued at about $537,000. HBK Investments L P purchased a new position in shares of Karman during the second quarter valued at about $998,000. Tidal Investments LLC raised its stake in Karman by 78.1% in the second quarter. Tidal Investments LLC now owns 29,199 shares of the company's stock worth $1,458,000 after buying an additional 12,807 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in Karman in the second quarter worth about $470,000.

Analyst Upgrades and Downgrades

KRMN has been the topic of a number of research analyst reports. Piper Sandler reiterated an "overweight" rating and set a $91.00 target price (down from $114.00) on shares of Karman in a report on Friday, August 7th. Needham & Company LLC lowered their target price on Karman from $125.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, August 7th. Royal Bank Of Canada dropped their price target on Karman from $85.00 to $70.00 and set an "outperform" rating on the stock in a research report on Monday, September 28th. Barclays began coverage on Karman in a research note on Thursday. They issued an "overweight" rating and a $79.00 price target on the stock. Finally, Truist Financial decreased their price objective on Karman from $118.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $87.33.

Insider Activity

In other news, Director David Stinnett purchased 27,000 shares of the company's stock in a transaction that occurred on Wednesday, September 16th. The shares were bought at an average price of $37.32 per share, for a total transaction of $1,007,640.00. Following the purchase, the director directly owned 3,530,395 shares in the company, valued at approximately $131,754,341.40. This trade represents a 0.77% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.77% of the stock is currently owned by corporate insiders.

Karman Stock Up 1.2%

Shares of NYSE KRMN traded up $0.36 on Thursday, reaching $31.75. 2,657,563 shares of the company's stock traded hands, compared to its average volume of 2,814,972. The business's 50 day simple moving average is $43.91 and its two-hundred day simple moving average is $56.25. Karman Holdings Inc. has a 12 month low of $30.87 and a 12 month high of $118.38. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 109.50 and a beta of 0.64. The company has a quick ratio of 3.40, a current ratio of 3.56 and a debt-to-equity ratio of 2.01.

Karman (NYSE:KRMN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. Karman had a return on equity of 15.54% and a net margin of 6.31%.The firm had revenue of $182.06 million for the quarter. During the same period in the prior year, the firm earned $0.10 earnings per share. The business's revenue for the quarter was up 58.2% compared to the same quarter last year. As a group, equities research analysts forecast that Karman Holdings Inc. will post 0.59 EPS for the current fiscal year.

About Karman

Karman NYSE: KRMN, through its subsidiaries, provides engineered components and manufacturing services for the aerospace and defense industries. The company focuses on mission-critical products used in space launch vehicles, missile systems, hypersonic platforms and other high-performance aerospace applications.

Its capabilities include the design and production of composite and metallic structures, precision-machined components, complex assemblies, thermal protection products and other specialized hardware.

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